Real Estate News

Real Estate Agent Commissions Haven’t Changed Much Since the NAR Settlement Took Effect

Buyer’s agents earned an average of 2.4% in commission in the first quarter. That’s up slightly from when the new NAR rules took effect in August, but down slightly from a year earlier. Broken down by price, the average buyer’s agent commission for $1 million-plus homes was 2.17%—down from 2.22% the quarter the new rules took effect. For homes that sold for under $500,000, it increased to 2.49% from 2.42%. Buyer’s agent commissions haven’t changed much since new real estate commission rules went into effect in the U.S. on August 17. The average buyer’s agent commission was 2.40% for homes sold in the first quarter. That’s up slightly from 2.37% in the fourth quarter of 2024 and 2.36% in the third quarter of 2024—when the new National Association of Realtors (NAR) commissions rules went into effect. But it’s down slightly from 2.43% in the first quarter of 2024, when the new rules were announced. https://datawrapper.dwcdn.net/sYJU9/3/ This is according to an analysis of Redfin’s data on buyer’s…

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07/10/2025

new jersey best realtor Richard Choi

Real Estate News

he U.S. real estate market is experiencing a downturn.

Recently, major U.S. real estate indicators have been signaling a market downturn. According to the S&P CoreLogic Case-Shiller Home Price Index, released by Dow Jones, home prices rose 3.4% year-over-year. However, this figure fell short of Dow Jones’ forecast of a 4.1% increase and was also lower than the 4% rise recorded in April of the previous year. This indicates that home prices in the 20 major U.S. cities have been steadily declining since peaking at 7.5% growth in February of last year. Contrary to market expectations, with mortgage rates hovering near 7%, buyers are stepping back from the market, and inventory is steadily increasing. The Federal Housing Finance Agency (FHFA) House Price Index, which tracks price fluctuations of privately-owned homes based on mortgage data from Fannie Mae and Freddie Mac, also fell 0.4% month-over-month to 434.9. This decline is the largest in 2 years and 8 months, since August 2022, and significantly missed market expectations, which anticipated a 0.1% increase.…

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07/07/2025

New Jersey Realtor Richard Choi 뉴저지 부동산 Richard Choi

Real Estate News

New Listings Lose Steam, Pending Sales Fall As Home Prices Hit Another Record High

Would-be sellers are pulling back as it becomes more clear the housing market is tilting in buyers’ favor in much of the country. New listings of U.S. homes for sale are up 2.5% from a year ago, the smallest increase in five months. On a local level, new listings are falling in 20 of the 50 most populous U.S. metro areas, with the biggest declines in Tampa, FL (-15.2%), San Antonio (-14.4%), and Orlando, FL (-11.1%). There are still hundreds of thousands more home sellers than buyers nationwide. But some would-be sellers are sitting on the sidelines as the market tilts more and more in buyers’ favor in much of the country. “Understandably, sellers want to get as much money as they can. Some homeowners feel they missed the prime selling window; many people who don’t need to sell right now are holding off, either staying put or trying to rent out their house,” said Kathy Scott, a Redfin Premier agent in Phoenix. “The advice…

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07/01/2025